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MGM TO REPORT IMPROVED PERFORMANCE

 CULVER CITY, Calif., March 26 /PRNewswire/ -- Metro-Goldwyn-Mayer Inc. (MGM) said today that financial results for its year ended Dec. 31, 1992, will show significant improvement over the prior year, its operating loss being reduced by more than 50 percent to $86.5 million from a loss of $176.2 million in 1991. The net loss for 1992 amounts to $271.1 million, after a negative effect of $33 million caused by an income tax accounting change made as of Jan. 1, 1992, as compared to a net loss of $347.4 million for 1991. Full financial results will be reported in MGM's Form 10-K.
 Co-Chairmen and Co-Chief Executive Officers Alan Ladd Jr. and Dennis Stanfill, said, "We are pleased with this improvement in MGM's results as compared with the prior year's. We are confident that the results for 1993 will show even greater improvement."
 MGM is involved in the worldwide production and distribution of motion pictures and television programs and operates theater chains in Europe.
 -0- 3/26/93
 /CONTACT: Craig Parsons of Pondel Parsons & Wilkinson, 310-207-9300, for MGM/


CO: Metro-Goldwyn-Mayer ST: California IN: ENT SU: ERP

JL-EH -- LA027 -- 9522 03/26/93 17:02 EST
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Publication:PR Newswire
Date:Mar 26, 1993
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